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Coast Copper Continues Drilling at Raven Bluff and Additional New Targets; Hires Exploration Manager

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TSX. V: COCO

VANCOUVER, BC, March 29, 2022 /CNW/ - Coast Copper Corp. ("Coast Copper" or the "Company"; (TSXV: COCO) announces that it:

NR22-06 Figure 1 (CNW Group/Coast Copper Corp.)
NR22-06 Figure 1 (CNW Group/Coast Copper Corp.)
  • has hired an experienced Exploration Manager;

  • has completed 5 core drill-holes during its current exploration program in the newly discovered area at Raven Bluff;

  • is continuing to drill on other new targets; and,

  • has received all the 2021 drill results at the optioned Empire Mine property.

Coast Copper is pleased to announce that it has hired Mr. Jesse Collison as Exploration Manager. Mr. Collison is an engineering geologist with more than 15 years of project management and advanced exploration experience on a variety of deposit types. He holds a B.Sc. in Geology from the University of Victoria and a M.Eng. in Mining Engineering from the University of British Columbia. Mr. Collison has spent the last ten years as an Engineering Geologist with Knight Piésold Ltd. as a consultant on advanced greenfield and brownfield exploration projects across Canada and the United States. Prior to joining Knight Piésold, he was a Mine Geologist at Taseko Mines Limited's ("Taseko") Gibraltar Mine and spent several years as an Exploration Geologist on many projects throughout British Columbia. Most notably, he was part of the team involved with confirming the resource at Taseko's Aley Niobium Project in 2010. Mr. Collison is a registered professional geoscientist and member in good standing with Engineers and Geoscientists BC.

Adam Travis, Coast Copper CEO comments, "We are very excited to welcome Jesse to our team. As a testament to the strength of the Empire Project, Jesse approached us after his review of advanced exploration projects in British Columbia having past production similar to ones he had been working on with Knight Piésold, where he could add significant value to a junior explorer. I am excited about our new drilling this year targeting our new discoveries, extending them along strike and at depth and taking that newfound knowledge into other areas of the property. Our exploration drilling at Raven Bluff is following up on our new discovery of 7.18 g/t gold and 3.17% copper over 16.3 metres and is progressing well with all 5 drill-holes extending the geological strike to over 100 metres so far and to a vertical depth of 250 metres. We are also testing at depth and along strike of the newly re-discovered Raven Pit, the West Pipe Dyke and the Lower Marten Showing. Our 2021 results (which 16 of the 19 holes returned significant* results) are proving that the Empire Project is a very target rich environment for copper-gold mineralization not only around the margins of the historical iron ore pit but also in underexplored areas near other historical occurrences and pits."

The 2022 drilling on the Empire Mine property has progressed steadily and Coast Copper has completed 5 diamond drill holes (MW22-020, 021, 022, 023 & 026) within the newly discovered Raven Bluff area where previous results from 2021 included MW21-015: 7.18 grams per tonne ("g/t") gold ("Au") and 3.17% copper ("Cu") over 16.3 metres ("m") including 16.86g/t Au over 4.70 m and 4.64 g/t Au, 12.51% Cu and 197.6 g/t silver ("Ag") over 3.36 m (as announced on February 1, 2022). The geological team has noted mineralization and alteration spatially associated with greenstone dykes in similar geological fashion to last winter's drilling in all 5 drill-holes to date (See Figure 1). The orientation of the main Raven Bluff mineralized zone is striking 330 degrees to the northwest and dipping 72 degrees to the east which follows the general trend of the greenstone dykes. MW21-016 was drilled at the same location as MW21-015 but at a steeper angle and thus did not pierce completely through the Raven Bluff mineralized zone into the hanging wall, which is host to the majority of the mineralization (see Figure 2).

Additional drilling includes 2 drill-holes (MW22-024 & 025) at the newly re-discovered buried Raven pit where last year's drilling from drillhole MW21-017 returned 6.2 g/t Au over 1.67 m.

One drillhole has also been completed (MW22-027) on the West Pipe Dyke (located ~100 m east of the Merry Widow Pit). Early 1960s exploration indicated a magnetic high west of the Kingfisher central deposit and was named the West Pipe. Historical drilling has indicated the existence of massive magnetite as a tabular body immediately overlying the West Pipe Dyke. Its occurrence coincides with the intersection of the dyke and the Kingfisher fault. Small lenses of pyrrhotite, pyrite, arsenopyrite and chalcopyrite with associated gold in calcite gangue lie along the hanging wall of the West Pipe Dyke (Lund, 1966). No records exist for the 1960s drilling at West Pipe and no other drilling was completed during exploration programs in the 1980s or early 2000s.

Based on the new discoveries at Raven Bluff and our geological understanding of significant gold and copper mineralization associated with high angled structures, drilling is also proposed at the Lower Marten showing, which has never been drill tested as previous drillholes in the area failed in overburden and/or fell well short of the target.

Results from the current drill program will be announced upon receipt and the completion of the Company's stringent QA/QC procedures. The Company has also contracted underground mining surveyors to assess the safety and overall condition of the underground Kingfisher mine.

The final assay results from the 2021 drill program included MW21-011 which targeted northwest of the current resource block estimation and intersected 2.38 g/t Au and 0.71% Cu over 6.72 m and another interval of 0.86 g/t Au and 0.31% Cu over 12.75 m. The results from MW21-011 and the rest of the 2021 drilling around the Merry Widow resource has enabled a better geological understanding of the Merry Widow deposit and how to best target expansion of the resource.

Coast Copper also tested the location of the Old Sport Horizon as known from the closed Benson Lake Mine with drill hole MW21-018. This drill-hole was successful in intersecting the Old Sport Horizon returning 0.38 g/t Au and 1.64 % Cu over 0.71 m. This is extremely important as very little information on the actual location of the Old Sport Horizon (a planar zone dipping to the west) in 3D space was known. Now, the Old Sport Horizon can be targeted with a much higher degree of confidence. See Table 1 for 2021 significant drill results.

A video summary of today's news release is available by clicking here.


Table 1: 2021 Empire Drill Program Significant* Drill Results

Zone

Hole ID

From

(m)

To

(m)

Interval**

(m)

Au

(g/t)

Cu

(%)

Ag

(g/t)

Cobalt

("Co") (%)

AuEq***

(g/t)

CuEq****

(%)

Merry
Widow

MW21-002

8.82

32.12

23.30

0.29

0.15

1.5

0.004

0.60

0.36

MW21-003

17.95

52.95

35.00

0.94

0.25

2.8

0.006

1.61

0.88

including

17.95

19.28

1.33

17.24

0.25

6.6

0.029

18.03

10.95

MW21-004

10.86

45.78

34.92

1.67

0.22

3.3

0.007

2.14

1.30

including

29.62

34.48

4.86

8.15

0.57

11.4

0.010

9.34

5.67

MW21-005

6.44

39.95

33.51

1.10

0.39

6.1

0.007

1.89

1.15

including

28.58

29.38

0.80

5.92

5.94

97.5

0.014

17.11

10.40

including

33.26

39.95

6.69

4.27

0.82

14.8

0.010

5.91

3.59

and

64.65

66.27 EOH

1.62

8.83

0.37

9.2

0.010

9.66

5.87

MW21-006

11.05

23.52

12.47

2.25

0.29

2.8

0.006

2.82

1.72

including

15.00

16.42

1.42

7.69

0.41

2.5

0.008

8.48

5.15

MW21-007

4.00

43.54

39.54

1.84

0.20

3.3

0.006

2.27

1.38

including

23.43

26.66

3.23

18.00

1.55

28.0

0.012

21.04

12.78

MW21-008

21.23

64.00

42.77

1.63

0.46

6.2

0.008

2.55

1.55

including

23.96

28.06

4.10

3.10

3.35

40.4

0.018

9.32

5.66

including

42.55

53.35

10.80

4.69

0.34

7.0

0.012

5.46

3.32

MW21-009

72.94

75.00

2.06

3.32

0.05

1.7

0.111

4.51

2.74

MW21-010 ●

64.34

64.93

0.59

0.60

0.34

6.5

0.011

1.35

0.82

MW21-011 ●

6.00

12.72

6.72

2.38

0.71

7.7

0.025

3.89

2.37

including

10.62

11.24

0.62

4.58

4.91

46.9

0.036

13.63

8.28

and

42.25

55.00

12.75

0.86

0.31

3.1

0.006

1.47

0.89

including

50.37

55.00

4.63

2.04

0.76

7.8

0.008

3.47

2.11

including

51.92

53.79

1.87

2.87

1.42

16.0

0.015

5.56

3.38

MW21-013

37.07

89.63

51.06

1.22

0.39

4.8

0.008

2.00

1.22

including

55.11

61.00

5.89

2.17

1.13

17.1

0.012

4.37

2.66

including

66.00

68.00

2.00

7.68

0.88

19.8

0.012

9.51

5.78

including

72.00

73.49

1.49

16.30

0.69

16.0

0.011

17.75

10.79

and

107.74

109.71

1.97

6.78

0.17

4.5

0.014

7.26

4.41

including

107.74

108.17

0.43

18.00

0.52

12.8

0.036

19.38

11.77

MW21-014

40.00

76.11

36.11

0.96

0.24

3.5

0.007

1.47

0.89

including

47.00

50.15

3.15

0.71

1.37

18.1

0.018

3.38

2.05

including

65.21

66.23

1.02

6.98

0.22

5.3

0.024

7.65

4.65

and

74.54

76.11

1.57

5.64

0.08

0.8

0.002

5.80

3.53

and

132

133.2

1.2

4.40

2.19

32.9

0.011

8.54

5.19

Raven
Bluff

MW21-015

15.76

16.3

0.54

4.67

5.81

38.6

0.192

16.62

10.10

and

56.55

57.47

0.92

12.90

0.65

16.4

0.009

14.27

8.67

and

77.53

79.42

1.89

11.47

0.51

13.7

0.011

12.60

7.65

and

97.78

114.06

16.28

7.18

3.17

47.8

0.056

13.57

8.25

including

100.46

105.16

4.70

16.86

0.22

1.7

0.004

17.28

10.50

including

110.70

114.06

3.36

4.64

12.51

197.6

0.209

29.87

18.15

MW21-016

208.55

211.27

2.72

0.31

0.47

4.6

0.007

1.21

0.74

and

266.96

279.00

12.04

0.55

1.06

12.2

0.007

2.52

1.53

including

272.25

273.91

1.66

1.43

4.38

60.2

0.026

9.68

5.88

including

278.00

279.00

1.00

2.49

3.49

30.2

0.021

8.84

5.37

and

295.35

297.00

1.65

1.40

0.20

2.8

0.002

1.79

1.08

Raven
Pit

MW21-017

31

32.67

1.67

6.20

0.002

0.4

0.000

6.21

3.77

and

32.67

34.7

2.03

0.36

0.28

9.9

0.067

1.61

0.98

and

53.9

54.85

0.95

0.22

0.40

2.1

0.017

1.07

0.65

Benson
Lake

MW21-018 ●

241.33

242.04

0.71

0.38

1.64

7.23

0.001

3.18

1.93

*

The intervals reported in this table represent drill intercepts and insufficient data is available at this time to state the true thickness of the mineralized intervals. **The Metal prices used in CuEq and AgEq calculations are as follows: Gold $1750/oz, Silver $23.00/oz, Copper $4.20/lb and Cobalt $25/lb. Recoveries are assumed to be 100% for the purposes of equivalent calculations.*** The AuEq formula used for calculations is: AuEq g/t = Au g/t + (Cu % x 1.65) + (Ag g/t x $0.013) + (Co % x $9.80).****The CuEq formula used for calculations is: CuEq % = Cu % + (Au g/t x $0.608) + (Ag g/t x $0.008) + (Co % x $5.95). ● Results not previously reported.

QA/QC Statement on Assay Results

The 2021 drill sample collection was supervised on-site by Coast Copper personnel and sub-contractors who inserted certified standards, blanks, and field duplicates consisting of quarter core samples into each batch of samples at regular intervals. QA/QC samples account for 8% of the total samples sent to the labs. Samples were sealed on site and shipped to MSALABS in Langley, British Columbia for analysis. Samples were prepared by crushing the entire sample to 70% passing -2mm, riffle splitting of 1kg and pulverizing the split to better than 85% passing 75 microns. MSALABS also conducts a rigorous QA/QC policy by inserting standards, blanks and conducting pulp duplicates on certain drill core intervals.

All samples were analyzed by 48 element ultra-trace 4-acid ICP digestion. Copper assays >10,000 ppm and Ag assays >100 g/t were reanalyzed with an Ore Grade method. The analytical results are verified with the application of industry standard Quality Assurance and Quality Control ("QA/QC") procedures. The gold assays were determined by 30g fire assay with AAS finish method which reports in parts per million ("ppm; equivalent to g/t). Any samples greater than 10.0 g/t gold were re-analyzed by fire assay method with a gravimetric finish.

Qualified Person

The technical information contained in this news release has been prepared, reviewed, and approved by Wade Barnes, P.Geo. (BC) of Tripoint Geological Services, Coast Copper's geological consultant and a Qualified Person within the context of Canadian Securities Administrators' National Instrument 43-101; Standards of Disclosure for Mineral Projects.

About Coast Copper Corp.

Coast Copper's exploration focus is the optioned Empire Mine property, located on northern Vancouver Island, BC, which covers three historical open pit mines and two past-producing underground mines that yielded iron, copper, gold and silver. Coast Copper's other properties include its 100% owned Eldorado, Gin and Bonanza properties located in BC's prolific Golden Triangle district which are adjacent to Newcrest Mining Limited's and Imperial Metals Corporation's Red Chris Mine, its Knob Hill NW Property located on northern Vancouver Island and its 100% owned Sterling and Home Brew properties which are located in central BC. Coast Copper's management team continues to review precious and base metals opportunities in western North America.

On Behalf of the Board of Directors:
"Adam Travis"
Adam Travis, Chief Executive Officer and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Certain information contained or incorporated by reference in this press release, including any information regarding the proposed Transaction, private placement, board and management changes, as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements." All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by Coast Copper, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although Coast Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to: fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements.

NR22-06 Figure 2 (CNW Group/Coast Copper Corp.)
NR22-06 Figure 2 (CNW Group/Coast Copper Corp.)

SOURCE Coast Copper Corp.

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